If you are like a lot of Americans, you may have a loyal four-legged friend by your side, and indeed dogs are fantastic companions. In the eyes of your dog you are the most important person in the world and there is no denying that it is a good feeling to be held in such high esteem, even if it is coming from a canine point of view.
All kidding aside, pets are obviously valuable to people of all ages but owning a dog can be especially good for senior citizens. It is not uncommon for elders to experience loneliness late in their lives, and the companionship that a dog can provide can really go a long way toward filling that gap.
In addition, dogs can provide protection. Of course there are some breeds that are capable guard dogs, but even small dogs have keen senses and they can let you know if they hear something outside that doesn’t sound quite right.
If you do have a dog late in your life you are going to have to take the animal into consideration when you are planning your estate. Finding a caretaker is going to be the first step, and once you identify someone to care for your dog you are going to have to provide this individual with the financial resources necessary to do so.
One option that is available to you would be the creation of a pet trust. If you would like to find out how to set up a trust for the benefit of your dog don’t hesitate to get in touch with an experienced Indianapolis estate planning lawyer to set up an informative consultation.
Paul A. Kraft, Estate Planning Attorney
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
Latest posts by Paul A. Kraft, Estate Planning Attorney (see all)
- Will Medicaid Pay for In-Home Care? - May 15, 2019
- What Is Elder Law? - May 8, 2019
- What Is Considered a Countable Asset for Medicaid - May 1, 2019
